(Washington, D.C) – A new report confirms that pharmacy benefit managers (PBMs) quickly promote patient access to new, affordable generic drugs over high-priced brand-name drugs.

The study, conducted by Wakely Consulting Group, finds that in the first six months after a brand name drug’s patent expires, generic drugs can cover as much as 80% of the market as patients quickly transition to the lower-cost alternative. Further, after two years, generic drugs dominate with up to a 97% market share against brand-name counterparts.

David Marin, President and CEO, Pharmaceutical Care Management Association, released the following statement on the Wakely Consulting report.

“Generics are delivering on their promise to create high-quality, lower-cost alternatives for patients. When available, they quickly drive down drug spending and lead to more affordable and accessible medications. The speed at which generics are prescribed over a brand is the reason Big Pharma is waging a war on generics. Brand drugmakers are abusing their government protections and searching for more and more profits by blocking generic entry.  

“This report reinforces why PBMs drive the use of generic drugs and biosimilars over more expensive brand-name drugs. That work creates price competition and has led to generics being more than 90 percent of prescriptions dispensed in the U.S. Still, brand drugs account for 88% of overall drug spending, and Big Pharma is fighting to keep it that way. Congress needs to do its part and stop drugmaker anticompetitive tactics to extend monopoly pricing well beyond their products’ patent expiration.”

The study also examined savings attached to generic utilization and found that in just the first six months, costs decrease an average of 30% and by as much as 70% and continue to drop by up to 85% after six months.

Read the full report HERE.